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Tax Credit Consulting: Solar Tax Credit Hayden ID

These credits were prime examples of the tax codes being used to encourage policy that was deemed in the best interest of the country. Included in the act were credits for energy efficient appliances, hybrid automobiles, and solar energy heating panels.

Brian Burks, MBA
5660 East Franklin Rd. Suite #130
Nampa, ID
Company
Title: Managing Partner
Company: Burks Wealth Management
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Education
U of Idaho/B.S. - Marketing
Boise State University - MBA
Years Experience
Years Experience: 15
Service
Life Settlements,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Annuities,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,401k Rollover From Employer,Income for Life/ Preserve Principal,Life Insurance,Investment & Portfolio Management,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Accumulation Planning,Individual Income

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H&R Block
(208) 454-6798
5108 CLEVELAND BLVD
CALDWELL, ID

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H&R Block
(208) 238-5958
4240 YELLOWSTONE AVE
CHUBBUCK, ID

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Liberty Tax Service
(866) 871-1040
8065 Fairview Ave
Boise, ID

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Liberty Tax Service
(866) 871-1040
1116 12th Ave S
Nampa, ID

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Liberty Tax Service
(866) 871-1040
25 S 16th St
Payette, ID

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Fast Tax Plus
(208) 887-1817
13965 W Chinden Blvd Ste 110
Boise, ID
 
Liberty Tax Service
(866) 871-1040
3929 Overland Rd
Boise, ID

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Comprehensive Tax Svc Inc
(208) 322-4649
600 N Curtis Rd Ste 210
Boise, ID

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A A Tax & Accounting Llc
(208) 375-1462
5123 Emerald St
Boise, ID
 
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Tax Credit Consulting: Solar Tax Credit

Solar Tax Credit

The Solar Tax Credit is the common name given to a provision of the Energy Policy Act of 2005 that allowed tax credits for certain solar related items used in home improvements.

The Energy Policy Act of 2005 established some serious tax credit incentives designed to reduce the reliance on fossil fuels in the United States. These credits were prime examples of the tax codes being used to encourage policy that was deemed in the best interest of the country. Included in the act were credits for energy efficient appliances, hybrid automobiles, and solar energy heating panels. The credit concerned with solar energy was referred to as the Solar Tax Credit.

It is important to note that the credits applied only to items purchased and put into service after December 31, 2005 and before January 1, 2008. So, although the credit has now expired, it may be taken on your 2007 tax return if items were put into service this past year. The credit is based on 30% of the cost of the installed systems up to a maximum of $2000.

The systems had to meet certain other qualifications as well. The systems included solar panels for heating, solar water heating systems, and fuel cell power plants. The solar heating units had to have an efficiency rating of at least 30% and produce at least 0.5 kilowatts of electricity. The 30% of actual cost up to a maximum of $2000 could be taken on all three systems separately. The fuel cell power plant credit was limited, however, to an a...

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